August 30, 2015
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Mortgage Refinance
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When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Refinance Now with Lendingtree! Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for? has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.


Mortgage Refinance Reviews

5 stars
Lending Tree

LENDING Best-In-Class Blue Ribbon Award

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More... Visit

4 stars
Quicken Loans


Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans. Read More... Visit

3 stars
The Easy Loan Site


The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit

3 stars
Loan App


In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More... Visit

2 stars
Rate Marketplace


Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list. Read More... Visit

1.5 stars
Mortgage Search 123


Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit

1 star
Lower My Bills


Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information. Read More... Visit

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.




New Student Loan Refinancing Program Offers Peace Of Mind To Pennsylvania Bar Assoc. Members
USI Affinity and SoFi partnership benefits lawyers with high student loan debt
Publication Date: August 27, 2015

RED Closes a $36.5 Million Balance Sheet Acquisition Loan for James Square Nursing and Rehabilitation Centre
ORIX USA Subsidiary Continues Steady Growth in Balance Sheet Program
Publication Date: July 20, 2015

AMDG Financial Offers Tips on Preparing for a Possible Fed Interest Rate Hike
While the timing remains uncertain, many financial experts speculate that the Federal Reserve could raise its key interest rate before the end of 2015. According to Wayne Titus, CPA, PFS, AIFA®, founding member of AMDG Financial, consumers should take steps now to prepare for the first Fed rate hike in nearly ten years, by considering three tips.
Publication Date: August 13, 2015

Armadale Capital Inc. Refinances $118 Million for Johnston Health Services Corporation
FHA Insured Transaction Generates over $13.8 Million in Savings
Publication Date: August 04, 2015

Trepp Research: Changing Tenant Needs Reshape the Recovering Office Market
Trepp has published a new piece of research focusing on office loans in CMBS and how their current landscape has forced borrowers and owners to adapt.
Publication Date: July 28, 2015

HomePlus Mortgage Included on LendingTrees List of Top Ten Customer-Rated Lenders for Q2 of 2015
LendingTree the nations top online loan marketplace recently unveiled its list of top ten customer-rated lenders for the second quarter of 2015. Listed in the number one position is San Diegos own HomePlus Mortgage.
Publication Date: August 17, 2015

Mid-Atlantic Federal Credit Union to Offer Suite of Rate Reset Products
Maryland Credit Union Joins the Expanding Rate Reset Network
Publication Date: August 06, 2015

Commercial Real Estate Remains Healthy
The Federal Savings Bank shares news of the current environment of the US commercial real estate market.
Publication Date: August 06, 2015

Applications Increase And Mortgage Rates Dip
The Federal Savings Bank shares news on the status of mortgage applications this month.
Publication Date: August 13, 2015

Recognized by His Clients, Sean Young of New American Funding Has Been Awarded for His Skills in the Mortgage Industry
Only 7% of mortgage professionals in the Denver area were named Five Star Mortgage Professionals in the September issue of 5280 magazine. This is the second year in a row that Sean has been named!
Publication Date: August 19, 2015

Scotsman Guide Hires Veteran Journalist, Bill Conroy, as Managing Editor
Adding the new position aims to bolster the editorial team and company offerings.
Publication Date: July 17, 2015

Rate Reset, IMM Partner to Bring New Software Solutions to Financial Institutions
Technology integration to support consumer retention and acquisition goals
Publication Date: August 18, 2015

U.S. International Media Selected as Media Agency by New American Funding
USIM to provide all media planning and buying for Mortgage Provider
Publication Date: August 21, 2015

Mortgage Company Reports Rapid Growth in Parternship with Credit Unions and Small Banks Thanks To Mortgage Loan Clout and Expertise
Main Street financial institutions are realizing the benefits of tapping the all-inclusive strengths of Marketplace Home Mortgage of the Twin Cities.
Publication Date: August 25, 2015

RED Provides $172M in Financing to Top Tier Multifamily Developer Klingbeil Multifamily Fund IV
ORIX USA Subsidiary Continues Strong Relationship with Top Tier Developer
Publication Date: August 14, 2015




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